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Top Payout Online Casinos for Australian Players
The measure of payout of an online casino is the average return it offers to its customers. Not all online casinos offer the same payouts averaged over time. The differences arise not because of the fairness of the games and also not because of administrative systems in place. Differences in payout arise mainly because of the selection of games in the portfolio of the online casino and also based on which games are played more frequently. These issues are discussed in more detail in related articles. Australian Online Casino has tracked the payout reports of several online casinos and lists the best below.
Payout percentage or return to player is the amount won by players on a certain online casino game or a set of online casino games over a defined period of time expressed as a percentage of the amount wagered on that game or those games over that period. For example if AU$1,000 has been wagered on an online slot game over a day and the online casino has paid out AU$970 as winnings on that game for that day, then the payout percentage will be 97%.
Average Payout Percentages
Usually online casinos do not report payout percentages for single games. They do so for games categories like online slots, table games and video poker or for a across all games offered. Also the payout percentages are usually reported for the entire month or longer periods. Because of the random nature of the outcomes, the payout percentages may be very high on one day and very low on another. Therefore averaging over longer periods becomes essential to derive meaningful inferences.
Actual Versus Expected Returns
Different online casino games are expected to have different payout percentages. In some games these expected payout percentages can be mathematically determined. For example, European Roulette is expected to offer a long term average return of just over 97% based on the laws of probability. In casino games like blackjack and online slots the expected payout percentages are determined based on simulation. Blackjack variants, if played using optimum strategy, are expected to offer payout percentages in excess of 99%. Online slots are expected to pay out in the range of 94% to 96%. Therefore top payout casinos are those which offer and promote games with higher expected payout percentages. In the long run these online casinos will return more value to their customers.
Payout percentages reported at online casinos are actual returns and are likely to be slightly more or less than the theoretical expected returns.
The difference between unaudited and audited payout percentages is the same as the difference between unaudited and audited financial statements.
Unaudited Payout Percentages
Just as unaudited financial statements are prepared internally by the organization, unaudited payout percentages are calculated by the online casino from the records of its wagering and payouts. Unaudited payout percentages will not necessarily be incorrect or false. In most cases, especially for online casinos under regulatory control of the reputed jurisdictions, unaudited payout percentages will be true. However, because they have been prepared by an interested party, they do not have the same credibility as audited payout percentages.
Audited Payout Percentages
Just as audited financial statements are prepared by a certified auditor, audited payout percentages are computed by an external agency. In the interest of the investing public and other stakeholders, the law of the land prescribes that all corporations have to present audited financial statements. Similarly, the licensing authorities prescribe that the online casinos must present audited payout percentages in the interest of the players. The agencies that compute audited payout percentages have expertise in this field. They are also independent agencies that have no financial or other interest in the online casinos they audit except that they receive a fee for the work done.
All online casinos recommended by Online Casino Australian have payout percentages audited by eCOGRA or Technical Systems Testing. These are among the most reputed agencies in the business having considerable experience and resources. In most cases these agencies will audit the records of the online casinos on a monthly basis and report the payout percentages over major games categories. When Australian players examine these audited payout percentages they are encouraged to wager at the online casinos. The small fee that the online casinos have to pay for this exercise is more than recovered by the additional business generated. Therefore this is a win-win situation for both players and online casinos.